Prediction Market or Sportsbook? Matching the Format to the Question

Sportsbooks and prediction markets both let you put money behind a view of the future. They price that view differently, settle it differently and suit different kinds of questions. Some questions only exist in one format. Others, such as a Champions League winner, appear in both, and the better choice depends on price, exit options, settlement rules and the currency you hold. Below: how the two formats differ, a question-by-question guide to the better fit, a worked comparison on one outright, and what to check on each side before you commit.